According to the Assignment agreement, who is the Assignee for Beard Papas?
Beard_Papas Franchise · 2025 FDDAnswer from 2025 FDD Document
The foregoing shall not be construed and/or interpreted as Assignees acknowledgment and/or agreement that Assignor owns and/or possesses any ownership interests in the foregoing telephone numbers, accounts and/or Digital Media. Any and all rights of Assignor in and to same exist subject to a limited license pursuant to the Beard Papa's Shop Franchise Agreement which shall take precedence and govern. However, this Assignment is intended by Assignor and Assignee to be an instrument that may be relied upon by all third parties to authorize and permit the assignments and transfers set forth in this Assignment and to facilitate the transfer of accounts and media to within the control of Assignee. Nothing contained in this Assignment shall be used to construe nor imply that Assignor possesses any ownership interests or rights in the Digital Media and in the event of any inconsistency or conflict between this Assignment and the Franchise Agreement, the Franchise Agreement shall take precedence and govern.
- This Assignment will become effective automatically upon the termination or expiration of the Franchise Agreement for any reason. As to all third parties proof of the expiration or termination of the Franchise Agreement shall exist exclusively upon the written declaration of Assignee and Assignee's declaration shall be dispositive and not subject to challenge. Assignor acknowledges that all third parties may rely on this Assignment for the purpose of taking any and all actions to ensure that access to and control of the Media is maintained by Assignee.
UTILIZATION OF THIS ASSIGNMENT SHALL EXIST AT THE SOLE DISCRETION OF ASSIGNEE AND FOR THE SOLE BENEFIT OF ASSIGNEE.
Source: Item 23 — RECEIPTS (FDD pages 58–275)
What This Means (2025 FDD)
Based on the 2025 Franchise Disclosure Document, the excerpt discusses an assignment agreement related to digital media, accounts, and login information for Beard Papas. It indicates that this assignment aims to authorize third parties to permit transfers of accounts and media to the control of the Assignee. The document clarifies that the Assignee's utilization of this assignment is at their sole discretion and for their sole benefit.
Furthermore, the agreement becomes effective automatically upon the termination or expiration of the Franchise Agreement. Third parties can rely on a written declaration by the Assignee as proof of termination or expiration, which is considered dispositive and not subject to challenge. This arrangement ensures that the Assignee maintains access to and control of the media upon the end of the franchise agreement.
However, the excerpt does not explicitly name or define who the Assignee is. It only describes the Assignee's rights, discretion, and the conditions under which the assignment becomes effective. To fully understand the implications, a prospective Beard Papas franchisee should seek clarification from the franchisor regarding the specific identity and role of the Assignee in these agreements.